Australia Retail November 2015

Australia: Retail sales slow in November

January 8, 2016

Nominal retail sales recorded a 0.4% increase in November over the previous month, in seasonally-adjusted terms. The figure was down from last month’s reading of 0.6% and coincided with market expectations. The categories of food and household goods observed the strongest increases in November, while department store retail fell.

On a year-on-year basis, the pace of growth in retail sales inched down from a 4.4% increase in October to a 3.8% expansion in November. As a result, annual average growth in retail sales in November fell from a 4.3% increase in October to a 4.2% rise.

Met the why particular Consensus Forecast panelists see private consumption growing 2.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees private consumption expanding 2.6%.

Author:Robert Hill, Economist

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